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CAMS Exam Dumps - Certified Anti-Money Laundering Specialist (the 6th edition)

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Question # 233

A customer puts high-denomination cash notes into a poker machine at a casino. Without placing any bets, the customer collected winnings in the form of a check from the casino.

Which money laundering threats could result from the customer's activities?

A.

Micro-structuring cash

B.

Legitimizing illicit funds

C.

Misuse of money service business

D.

Obscured beneficial ownership

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Question # 234

When deficiencies are identified in the Financial Action Task Force (FATF) mutual evaluation report, the assessed country needs to:

A.

address the shortcomings identified in the report and agree to post-assessment monitoring by FATF.

B.

request exception from the relevant FATF-style regional body by submitting a report with the reasons.

C.

pay a penalty for the delay in adopting the FATF 40 recommendations accurately and timely.

D.

prepare a report to defend its position against the FATF secretariat, which is comprised of the assessors.

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Question # 235

Which should be provided to the board of directors or designated specialized committee when preparing suspicious activity reports (SARs)?

A.

All possible details of SARs filed during the reported period

B.

Names of all customers subject to SARs filed during the reported period

C.

Statistical data regarding SARs filed during the reported period

D.

Copies of all SARs filed during the reported period

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Question # 236

Which is an example of structuring with regards to money laundering?

A.

A person uses the hawala system to transfer 10,000 USD from Australia to a family member in China.

B.

A person deposits 100,000 USD in cash at a bank.

C.

A person deposits substantial sums of currency into a number of local branches by making several cash transactions of less than 10,000 USD.

D.

A person deposits a large amount of more than 100,000 USD in cash and transfers it to another person's account.

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Question # 237

Which of the followingactivities are considered money laundering red flagswhen reviewingbusiness operationsof amoney services business (MSB)? (Select Two.)

A.

A customer exchangingforeign currency from a higher-risk jurisdictionfor domestic currency under the reporting threshold.

B.

Cash-intensive businesses, such as convenience stores or restaurants, makinglarge cash deposits.

C.

A customercompleting frequent small-dollar international money transfersto their native country.

D.

A customer beinghesitant to provide beneficiary name or address informationwhen sending international wire transfers.

E.

A customerusing multiple accounts under different namesto conduct transactions.

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Question # 238

Anemployee in a corporation’s finance departmenthears news of aninternal investigation into potential fraud within the company, quits their job, and disappears.

If they had been observed before their resignation, which characteristics of the employee would have been consideredred flags? (Select Two.)

A.

The employee was constantly evasive about the reasons for leaving their previous corporate finance job.

B.

The employee was originally from a high-risk jurisdiction.

C.

The employee had friends in high-risk industries.

D.

The employee had a lavish lifestyle for their income.

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Question # 239

To ensure the independence of an audit for an AML program those involved in the audit would best be described as being:

A.

not Involved in the organizations AML compliance program and having a reporting line to the board of directors or committee thereof

B.

not involved in the organizations AML compliance program and having a reporting line to the organization's Chief Executive Officer

C.

not involved in the organization's suspicious activity report filing process and having a reporting line to the board of directors or committee thereof.

D.

not involved in the organization's suspicious activity report filing process and having a reporting line to the organization's Chief Executive Officer

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Question # 240

Arecruitment manager in the human resources departmentof a bank hasshortlisted a candidate for the position of relationship manager in its private banking division.

Thebank’s compliance policyrequiresproper background checksto protect againstfraud and money laundering risks.

Whichresourceswould bemost usefulfor identifying potential negative information regarding the shortlisted candidate? (Select Three.)

A.

Past employment records.

B.

Personal references from close associates.

C.

Personal resume.

D.

Internet and public media searches.

E.

Criminal history searches.

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